CHARLOTTE, Mich., May 9, 2005 /PRNewswire-FirstCall via COMTEX/ — John Sztykiel, president
and CEO of Spartan Motors, Inc. (Nasdaq: SPAR), is taking the helm of an
innovative new motorhome and literally going “on the road” this week to update
investment professionals in key U.S. financial markets about the company’s
progress.
(Photo: http://www.newscom.com/cgi-bin/prnh/20050509/DEM008 )
Sztykiel will be driving a new 41-foot Class A motorhome across seven
states, from Boston to Chicago, on May 10 through May 13. The motorhome, a
Travel Supreme ME riding on a unique Spartan mid-engine Me2 chassis, features
a built-in garage large enough to house a BMW Mini Cooper or two motorcycles.
Additionally, the motorhome can tow a car or another vehicle.
Spartan Motors (https://theshyftgroup.com ), the Charlotte, Mich.-based
manufacturer of custom motorhome chassis, fire truck chassis and emergency-
rescue vehicles, recently reported record sales and a 54.3 percent in net
earnings for its 2005 first quarter, driven by a 66 percent increase in RV
chassis sales.
“What makes companies great are people, processes and products and this is
a tremendous opportunity to meet with investors and the media and show them —
live and in person — the products which make Spartan unique,” said Sztykiel.
“We have portfolio managers, analysts and media in four cities interested in
learning more about Spartan Motors and touring the RV or taking it out for a
‘ride and drive’.”
On the tour, Sztykiel will be stopping in Boston on May 10, New York City
on May 11, Cleveland on May 12 and Chicago on May 13. The visit to New York
City on May 11 coincides with the Catalyst Research Small-Cap Recreational
Vehicle Conference (http://www.catalystresearch.com ), an analyst conference
featuring several of the top publicly-traded companies in the RV industry.
The Travel Supreme ME, built by Elkhart, Ind.-based RV maker Travel
Supreme (http://www.travelsupreme.com ), is a 41-foot long Class A motorhome.
The motorhome, which features two slideouts and plenty of other luxurious
touches, is built on an innovative new mid-engine chassis — the Me2 — built
exclusively by Spartan. The chassis engine is in the middle of the coach and
below the frame rails, allowing for more room, better design flexibility,
improved performance and better ride and handling.
The Travel Supreme ME’s 12-foot deep storage garage, located in the rear
of the coach, includes a hydraulic lift and allows owners to park their
favorite “toys” — personal watercrafts, ATVs, motorcycles or even a small car
— inside the vehicle. The motorhome can also tow additional vehicles,
increasing the number of “toys” an owner can bring along on the trip, a key
feature as an estimated 87 percent of RVers tow a car or other vehicles.
In configurations without the internal garage, the flat floors of motorhomes
with the Me2 chassis allow more potential living area, such as five slideouts
and two bathrooms.
Sztykiel said he is hitting the road to inform the investment community
about the tremendous growth opportunity of the RV market and Spartan Motors.
Industry analysts are predicting substantial RV market growth over the long
term because of favorable demographic factors and lifestyle trends.
A recent study by the University of Michigan/ Recreational Vehicle
Industry Association (RVIA) indicates RV ownership has reached record levels
and nearly one in 12 U.S. vehicle-owning households now owns an RV, adding up
to nearly 7 million households. Another eight million U.S. households are
projected to own RVs by 2010, a 15 percent increase outpacing overall U.S.
household growth. Every day, 11,000 Americans turn 50, according to U.S.
Census figures.
Additionally, the continuing trend toward diesel-powered chassis remains a
key growth driver, as Spartan exclusively produces diesel chassis and has the
broadest and best selection in the diesel market. Analysts report retail
registrations for diesel RVs are up 11 percent in 2005, and for the first time
ever, the number of diesel-powered motorhomes produced is expected to surpass
gas-powered motorhomes in 2005.
“As gas prices rise, diesel becomes more attractive. Likewise, as RVers
demand more amenities and bring along more toys, the need for more horsepower
— and for diesel engines — grows,” said Sztykiel. “The long-term
demographic outlook also bodes well for Spartan Motors in both our RV and
emergency rescue segments and we’re looking forward to telling our story to
investors.”
About Spartan Motors
Spartan Motors, Inc. (https://theshyftgroup.com ) designs, engineers
and manufactures custom chassis and vehicles for the recreational vehicle,
fire truck, ambulance and emergency-rescue markets. The Company’s brand names
— Spartan(TM), Crimson Fire(TM), Crimson Fire Aerials(TM), and Road
Rescue(TM) — are known in their market niches for quality, value, service and
being the first to market with innovative products. The Company employs
approximately 900 at facilities in Michigan, Alabama, Pennsylvania, South
Carolina, and South Dakota. Spartan Motors is publicly traded on The Nasdaq
Stock Market under the ticker symbol SPAR.
The statements contained in this news release include certain predictions
and projections that may be considered “forward-looking statements” under the
securities laws. These forward-looking statements are identifiable by words
or phrases indicating that the Company or management “expects,” “believes” or
is “confident” that a particular result “may” or “should” occur, that a
particular item “bodes well,” that the Company “looks forward” to a particular
result, or similar statements. These statements involve many risks and
uncertainties that could cause actual results to differ materially, including
but not limited to economic, competitive, governmental and technological
factors affecting the Company’s operations, markets, products, services and
prices. Accounting estimates are inherently forward-looking. Additional
information about these and other factors that may adversely affect these
forward-looking statements are contained in the Company’s reports and filings
with the Securities and Exchange Commission. The Company undertakes no
obligation to update or revise any forward-looking statements to reflect
developments or information obtained after the date of this news release.
SOURCE Spartan Motors, Inc.
John Sztykiel, CEO, or Jim Knapp, CFO of Spartan Motors, Inc., +1-517-543-6400; or
Jeff Lambert or Ryan McGrath of Lambert, Edwards & Associates, Inc.,
+1-616-233-0500, [email protected] , for Spartan Motors, Inc.